The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  Bloomberg The yuan climbed to its strongest level in a week, as Chinese authorities work to halt the currency’s recent plunge with stronger fixings and a verbal defense. The currency rose as much as 0.26 percent to 6.8900 per dollar, the strongest level since Nov. 22, before trimming the gains to trade 0.24 percent stronger as of 5:31 p.m. ...

  Bloomberg Standard Chartered Plc is cutting about 10 percent of the staff in its corporate and institutional division as part of a plan announced last year to eliminate 15,000 jobs and improve profitability at the Asia-focused bank, according to a person familiar with the plans. Staff will be notified of the cuts starting this week, and jobs will be ...

  Bloomberg Banco Santander SA is scrapping plans to separate its consumer lending operations from large corporate and institutional banking in the UK in the wake of the country’s vote to leave the European Union, according to a person with knowledge of the matter. The Spanish lender is discussing fresh proposals with the Bank of England to meet the regulator’s ...

  Geneva / AFP Up to 16,000 civilians have fled strife-torn parts of eastern Aleppo as the rebels lost all of the northern neighbourhoods of their stronghold, the UN said on Tuesday, describing the situation as “chilling”. “The intensity of attacks on eastern Aleppo neighbourhoods over the past few days has forced thousands of civilians to flee to other parts of ...

  Aden / AFP Yemeni President Abedrabbo Mansour Hadi accused Shiite rebels and their allies on Tuesday of dashing hopes for peace after they unveiled a new government in areas under their control. Hadi said that Monday’s formation by the Iran-backed rebels of a government of national salvation showed their determination to “spread chaos and destruction” and “destroys any chance ...

Madrid / AFP Amnesty International on Tuesday denounced conditions for migrants arriving in Spain’s overseas territories of Melilla and Ceuta, where they said asylum rights were not always respected. After interviewing some 50 people in both north African enclaves that neighbour Morocco, the group said migrants who arrived there had at times experienced police abuse. Ceuta and Melilla are favoured ...

  Ramallah / AFP Palestinian president Mahmud Abbas’s Fatah re-elected him party head on Tuesday as the movement opened its first congress since 2009 with talk mounting of who will eventually succeed the 81-year-old. Abbas was re-elected by consensus, party spokesman Mahmud Abu al-Hija said, and was due to address the congress at 6:00 pm . Some 1,400 delegates were attending. ...

  Istanbul / AFP Turkish prosecutors have demanded multiple life sentences for almost 50 alleged plotters in the failed July coup charged with conspiring to assassinate President Recep Tayyip Erdogan at an Aegean holiday resort, state media said on Tuesday. Erdogan, who was staying at a hotel in the upmarket Marmaris resort with his family on the night of the July ...

  Baghdad / AFP The Mosul battle in Iraq has seen the IS group increasingly resort to weaponised drones, which Western governments fear could lead to a new type of attack at home. France issued an internal note to its security forces last week warning that “this threat is to be taken into account nationwide” and ordering any drone be treated ...

  Tunis / AFP Qatar and France promised more than a billion dollars in financial support for Tunisia at an investment conference on Tuesday aimed at reviving the country’s struggling economy. Nearly six years after its Arab Spring revolution, Tunisia hopes the meeting will help it confront challenges including high unemployment, low growth and a tourism sector hammered by jihadist ...